Sam Bankman-Fried’s Alameda Research will return $200 million borrowed from Voyager Digital #news

Upcoming News

Sam Bankman-Fried’s Alameda Research will return $200 million in cryptocurrency it had borrowed from bankrupt crypto lending platform Voyager Digital, in step with a court filing.

The buying and selling company based by way of the CEO of crypto change FTX took a mortgage in crypto from Voyager ultimate yr, which on the time was once value about $380 million.

According to the Monday filing, Alameda will pay again about 6,553 Bitcoin in addition to about 51,000 Ether, a sum that comes with accumulated charges, prior to the top of September. 

In return, Voyager will return the $160 million in collateral that sponsored the mortgage, together with 4,650,000 of FTX’s cryptocurrency FTT and 63,750,000 SRM (Serum) tokens. 

Through its legitimate Twitter account, Alameda had previously said it was once open to repaying the $200 million mortgage and getting again its collateral. But the connection between the 2 corporations has been hectic in recent times, as Voyager has carried out a seek for a purchaser amid chapter lawsuits.

In July, 3 corporations connected to Bankman-Fried, together with FTX and Alameda Research, proposed to shop for maximum of Voyager’s virtual belongings and virtual asset loans, and provides its consumers, who’ve been blocked from taking flight price range from the platform for months, a way to get back some of their money.

Despite a good reaction from some Voyager consumers seeking any sort of recompense, the corporate rebuffed the offer, portray it as “a low-ball bid dressed up as a white knight rescue.” 

Yet, in contemporary days, FTX has reportedly emerged as a most likely purchaser of Voyager, according to CoinDesk, even though the be offering quantity wasn’t disclosed.

Voyager Digital filed for Chapter 11 bankruptcy in July days after it suspended withdrawals from its platform. The corporate suffered within the aftermath of the cave in of stablecoin TerraUSD and its sister crypto Luna previous this yr, and took a blow from what was once on the time a $661 million publicity to once-prominent crypto hedge fund Three Arrows Capital.

Upcoming News

Source link

Leave a Comment